27 Mar Sibanye-Stillwater to explore moving primary listing from Johannesburg
Sibanye-Stillwater’s CEO Neal Froneman has revealed that the company will consider changing its primary listing as it explores capital growth opportunities beyond the South African market.
“In the future we will probably have to look at our primary listing from the point of view of accessing capital more efficiently and we don’t know where that will be,” said Froneman on the sidelines of the Breakfast Indaba in Johannesburg.
The precious metals producer is domiciled in South Africa but also listed on the New York Stock Exchange (NYSE) and has platinum group metals (PGM) operations in the United States, along with gold and platinum mines in South Africa.
Furthermore, Sibanye said it has begun looking at opportunities in the battery electrical metals sector and could unfold a strategy in the next two years. Last month, Sibanye bought SFA (Oxford), which provides market intelligence on battery materials and precious metals.
In February, the company said it could cut nearly 6,000 jobs in a planned restructuring of its South African gold mining operations. South African gold producers have had their profits squeezed by rising costs, labour unrest and declining grades in recent years.